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Why businesses should care about application security?

Application security services

Mobile and internet penetration has grown manifold and is expected to rise further in the coming years. Application development has also kept pace with this change. Recent research points out an 83% year-on-year increase in mobile app downloads. But what cannot be overlooked is that cyber risk has also enhanced.

With each passing day, companies realize the growing importance of application security. As a result, the revenue from global application security is expected to grow at 13%, resulting in a market volume of US$3.82bn by 2027. And the most revenue shall be generated by the US, according to a recent study by Statista.

Globally, senior leadership are more focused on rapid development and faster release cycles, which has led to the neglect of application security. The most important thing to be noted is that constant and growing cyber threats mean apps need to be secure. 

In a recent bulletin report, the U.S. House of Representatives has decided to allocate a staggering $15.6 billion to cybersecurity spending for the fiscal year 2023. But the cybersecurity threat facing the US continues to increase. Exacerbating this threat is the accelerated adoption of digital transformation and multi and hybrid cloud environments. In addition, most modern applications communicate through APIs or Application Programming Interfaces, which have rapidly increased in use.

App Development teams are undergoing significant change. Their role is not just to produce deliverable apps but also to become decision-makers in ensuring that the app is secure. Leading app giants have already started hiring cross-skilled senior leadership who can provide as much input as to what security tools and practices to implement in addition to versatile app features. 

Many app companies require modern technologies to protect their applications, so development teams have partnered with security leaders to implement security controls without slowing down the process. As a result, it is possible to operate secure APIs by proactively scanning and monitoring them for any malicious activity. Get in touch with the leading application security company in the US, Cybalt, to avail customized and affordable packages.


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